The EURUSD has moved higher today after the run to the downside yesterday, found support ahead of the rising 100 hour MA. The European session saw increased upside momentum and that has continued into the early US session.
The high price has now reached into a swing area target between 1.0567 and 1.05779. The high price today is 1.05706, Sellers have been leaning in that area over the last hour or so of trading (with stops on a break above?). There is another swing area between 1.0592 to 1.05986 and above that the swing high from May 5 at 1.0641.
On the downside, traders would want to see a move back below the 61.8% of the May trading range at 1.0529 to be re-broken to give more downside confidence now.
New highs are being made as type and the price is testing the 1.05779 level.
